Captrust Financial Advisors Lowers Position in Lakeland Financial Co. (NASDAQ:LKFN)

Captrust Financial Advisors trimmed its holdings in shares of Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 68.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,955 shares of the financial services provider's stock after selling 10,906 shares during the quarter. Captrust Financial Advisors' holdings in Lakeland Financial were worth $323,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Lakeland Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 902,968 shares of the financial services provider's stock valued at $58,801,000 after acquiring an additional 27,214 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lakeland Financial by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 816,549 shares of the financial services provider's stock valued at $50,232,000 after buying an additional 11,118 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of Lakeland Financial by 29.5% during the third quarter. Eagle Asset Management Inc. now owns 250,139 shares of the financial services provider's stock valued at $16,289,000 after buying an additional 56,928 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Lakeland Financial by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider's stock valued at $14,386,000 after buying an additional 12,846 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Lakeland Financial by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 232,888 shares of the financial services provider's stock valued at $14,327,000 after buying an additional 684 shares during the last quarter. 81.15% of the stock is currently owned by institutional investors.

Lakeland Financial Stock Down 0.4 %

Shares of Lakeland Financial stock traded down $0.26 during midday trading on Friday, hitting $72.76. The company had a trading volume of 110,619 shares, compared to its average volume of 114,210. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 18.90 and a beta of 0.67. The company has a fifty day simple moving average of $69.92 and a 200 day simple moving average of $65.97. Lakeland Financial Co. has a 12-month low of $57.45 and a 12-month high of $78.61.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. The business had revenue of $106.94 million for the quarter, compared to analysts' expectations of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same quarter last year, the company earned $0.98 EPS. As a group, analysts expect that Lakeland Financial Co. will post 3.42 EPS for the current year.

Lakeland Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.92 annualized dividend and a yield of 2.64%. Lakeland Financial's payout ratio is 49.87%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $73.50, for a total transaction of $290,986.50. Following the sale, the executive vice president now directly owns 32,475 shares in the company, valued at $2,386,912.50. This represents a 10.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 4,150 shares of company stock worth $305,327 in the last ninety days. 3.30% of the stock is owned by insiders.

Lakeland Financial Company Profile

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.